Keynes’s missing axioms

Abstract

Between Keynes’s verbalized theory and its formal basis persists a lacuna.
The conceptual groundwork is too small and not general. The quest for a
comprehensive formal basis is guided by the question: what is the minimum
set of foundational propositions for a consistent reconstruction of the money
economy? We start with three structural axioms. The claim of generality
entails that it should be possible to prove that Keynes’s formalism is a subset
of the structural axiom set. The axioms are applied to a central part of the
General Theory in order to achieve consistency and generality.

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